National Feed Mill Ltd. (IPO) Subscription Date Start from October 26, 2014

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National Feed Mill Ltd. share of the money collected will be 18 Core. This company IPO subscription will be started from October 26, 2014 and will be closed on October 30, 2014. For NRB applicants, it will remain open till November 06, 2014. The face value of TK 10 per share value of company and offer price is TK 10 including a premium of taka nil. This ipo drawn amount use of bank loan payment, Current capital increase, Business activities increase and some amount expanse of ipo portion. This company share issue manager responsible for ICB Capital Management Limited and PLFS Investment Limited. Last financial year shows the EPS Taka 1.85 & Net asset value per share (NAV) taka 14.55. This Company Quantity of Share per lot 500.

C&A Textiles Mills Ltd. (IPO) Subscription Date Start from November 09, 2014

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C & A Textiles Mills Limited (IPO) share of the money collected will be 45 Core. This company IPO subscription will be started from November 09, 2014 and will be closed on November 13, 2014. For NRB applicants, it will remain open till November 22, 2014. The face value of TK 10 per share value of company and offer price is TK 10 including a premium of taka Nil. This company share issue manager responsible for AFC Capital Limited and Imperial Capital Limited. Last financial year shows the EPS Taka 1.78 & Net asset value per share (NAV) taka 18.38. This Company Quantity of Share per lot 100. Total quantity of share: 45,000,000.

Ifad Auto Ltd. (IPO) Subscription Date Start from November 23, 2014

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Ifad Auto Limited (IPO) share of the money collected will be 63 Core 75 lac. This company IPO subscription will be started from November 23, 2014 and will be closed on November 27, 2014. For NRB applicants, it will remain open till December 06, 2014. The face value of TK 10 per share value of company and offer price is TK 30 including a premium of taka 20.This company ipo tk use of Business spread, Bank loan payment and some amount expanses of ipo portion. This company share issue manager responsible for Banco Finance & Investment Limited and Alpha Capital Management Limited. Last financial year shows the EPS Taka 5.16 & Net asset value per share (NAV) taka 27.29. This Company Quantity of Share per lot 200. Total quantity of share: 21,250,000.

Investors gird for scarier days in markets

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NEW YORK, Oct 11 (Reuters): Volatility has suddenly returned to US stocks, and for the first time all year it doesn't appear that the weakness in equities will go away quietly in the span of a few days.

While the S&P 500 is still up 3.1 per cent for the year, the index is off about 5 per cent from its record high reached in mid-September, and closed out this week at the lowest level since May 23.

"We're still in a bull market, but in the near term things are a little bit dicey, and I don't think the decline is over with yet," said Jeffrey Saut, chief investment strategist at Raymond James Financial in St Petersburg, Florida.

The S&P 500 and Nasdaq posted their biggest weekly declines since May 2012, and the Dow Jones industrial average ended on Friday in negative territory for the year.

The S&P also posted back-to-back intraday moves of more than 40 points this week for the first time in three years. Wall Street's fear gauge, the CBOE Volatility Index, ended at 21.24 on Friday, its highest level since early February.

Investors said they were concerned about the eventual end of Federal Reserve stimulus, as well as weak growth overseas and its potential effect on US earnings. The slide in oil prices has also served as a harbinger for poor demand, and investors in general got caught betting heavily on further market gains at a time when this stew boiled over.

The volatility recalls the last major period of big market gyrations in the second half of 2011, when the first-ever credit downgrade of the United States and the threat of a debt default kept investors on their toes for several months. It is unclear whether the current turmoil will last as long.

"What is interesting about what is going on is that you have several themes all feeding into the same action, and that action is to mitigate risk," said Peter Kenny, chief market strategist of Clearpool Group in New York.

The only S&P 500 sectors to gain since the market's September 18 high are defensive - utilities and consumer staples. This week also saw the biggest weekly inflow on record to US taxable bond funds, while nearly $7 billion left stock funds.

One sign that investors anticipate more volatility has been in the options market, where volumes have increased sharply. Friday marked the busiest day in the options market since June 2013, with options volume totaling 27.2 million contracts, according to options analytics firm Trade Alert.

In addition, the CBOE Volatility Index is trading higher than monthly VIX futures contracts between now and May 2015, a sign of worry about near-term ups and downs in the market.

"Just look at options volume versus stocks volume over the past three to six months," said Tim Biggam, lead option strategist at online brokerage TradingBlock.

"Options volume has been nothing but growing and stock volume has been sort of petering out. A lot of the big players are pre-positioning with options."

Growing worry over Europe and other overseas economies has money managers concerned about earnings season. The next two weeks bring a slew of US corporate results, including from S&P 500 companies with some of the highest levels of sales abroad, such as chip maker Intel Corp.

A disappointing outlook from Microchip Technology late Thursday has put a negative spin on the chip sector's outlook. The PHLX semiconductor index saw its largest daily percentage decline since January 2009, ending down 6.9 per cent on Friday. It lost as much as 15 per cent since hitting a 13-year high less than a month ago.

Should US results prove strong, however, it may stem the recent selling.

"The earnings reports from the US should help put a bottom in the market and lead to some regained strength. We think we remain in good shape," said Jim McDonald, chief investment strategist at Chicago-based Northern Trust Asset Management, which has about $924 billion in assets.
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Tokyo stocks close down 0.75pc

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TOKYO, Oct 9 (AFP): Tokyo shares fell 0.75 per cent on Thursday as a stronger yen wiped out early gains after the Federal Reserve dampened expectations for a US interest rate hike in early 2015.

The Nikkei 225 at the Tokyo Stock Exchange was down 117.05 points at 15,478.93, after the benchmark index opened 0.55 per cent higher.

The Topix index of all first-section shares slipped 1.10 per cent, or 14.07 points, to close at 1,260.78.

"Selling pressure emerged in late trading because of a strong yen, which erased the Nikkei's early gain," said Hikaru Sato, senior technical analyst at the investment strategy section at Daiwa Securities.

The dollar slipped to 107.85 yen from 108.14 yen in New York. A stronger yen makes Japanese exporters less profitable.

"Depressed US interest rates benefit equities prices generally, but for Japan stocks a higher dollar is usually a necessary reason to buy major exporters," Shinkin Asset Management fund manager Naoki Fujiwara told Dow Jones Newswires.

The Nikkei rallied in the morning after the Fed minutes showed policymakers cautious about rushing into rate hikes, and worried that the dollar is rising too fast.

There was also concern over slow growth in Europe, China and Japan as well as geopolitical tensions.

A string of upbeat US data in recent months has fuelled speculation the Fed will likely announce a rate rise before a mid-2015 timetable.

Japanese shares got an initial lift after fresh data showed Japanese machinery orders -- a key leading indicator of capital spending -- rose for the third straight month in August, bucking a recent string of weak economic figures.

Toyota fell 0.19 per cent to 6,240.0 yen, while Japan Airlines was down 0.42 per cent at 2,845.0 yen.

Uniqlo clothing chain operator Fast Retailing jumped 1.49 per cent to 37,255.0 yen on upbeat expectations for its earnings results.

Following the closing bell, however, the firm said net profit dropped 28.7 per cent for the year to August even as overall sales rose, mainly due to a strong performance at Uniqlo stores outside Japan.

Japan's largest restaurant chain operator Skylark fell 4.8 per cent on its debut.

Temporary staffing giant Recruit Holdings is set to start trading in Tokyo next week following a $2.0 billion initial public offering

World stocks roar Fed approval

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LONDON, Oct 9 (Reuters): World stock markets roared their approval on Thursday of reassurances the US Federal Reserve will not rush into raising interest rates, with risk appetite flooding back into almost every asset class. The dollar jolted lower, while oil and commodity prices rose. Bond yields in large parts of Europe, which have plunged during years of cheap funding from the Fed and the world's other major central banks, hit new record lows. Minutes of the Fed's September 16-17 meeting published late on Wednesday showed officials were wary about the dual threats of a stronger dollar and recent wobbles in the world economy as they seek an eventual exit from record low rates. There were big gains on Wall Street and for Asia stocks, and European shares duly followed suit as Britain's FTSE 100, Germany's DAX and France's CAC 40 rose 0.7, 1.2 and 0.8 per cent respectively in early trading. "It (the Fed's message) has stabilised risk appetite and it was well needed following the macro economic disappointments we have had recently," said Hans Peterson, global head of asset allocation at SEB investment management. "It is a burning issue, the pace of US interest rate rises. They will tighten of course, but it will probably be very slow." Even news that German exports slumped 5.8 per cent in August -- their biggest fall since the height of the financial crisis in January 2009, and yet another sign that Europe's largest economy is faltering -- failed to dampen the mood. Spanish and Belgian bond yields hit record lows and German Bunds edged towards them in a broad-based euro zone debt rally, while many emerging market bonds and currencies jumped. MSCI's broadest index of Asia-Pacific shares outside Japan, which touched its lowest level since March in the previous session, was up about 1.2 per cent in late trade. Japan's Nikkei share average skidded 0.8 per cent, however, as the yen rose against the weakened dollar. "Fed officials have concerns on the impact of a strong dollar, which undermines the scenario held by some that Japanese shares will benefit from further strength in the dollar against the yen," said Masayuki Doshida, senior market analyst in Tokyo for Rakuten Securities. US interest rate futures reacted swiftly to the minutes, with June 2015 eurodollar interest rate futures hitting a contract high as traders scaled back expectations the Fed will raise rates by the middle of 2015. The rate-sensitive two-year US Treasury note yield hit a seven-week low of 0.444 per cent. The 30-year bond yield dropped to a 17-month low of 3.039 per cent. In the currency market, where the dollar had gained sharply over the past three months on the perception that higher US rates down the road will attract more funds, investors rushed out of dollar-buying positions. The dollar's index against a basket of six major currencies slipped as low as 85.046 in early European trading, its lowest level in about two weeks and well off a four-year high of 86.746 hit on Friday. For the euro it meant a fourth day of upward momentum. It was at a session high of $1.2769 at 0815 GMT despite the weak German data, while the yen was at a three-week high, with a dollar worth 107.85 yen. "It appears likely now that the dollar index's record run of 12 consecutive weekly gains will be brought to an end this week," said Lee Hardman, a currency analyst at Bank of Tokyo-Mitsubishi in London. In commodities trading, US crude oil prices rebounded from a 1-1/2-year low hit overnight, adding about 0.2 per cent to $87.60 per barrel, while Brent crude, the European benchmark, rose off Wednesday's two-year low to gain 0.2 per cent on the day to $91.57. A weaker dollar makes dollar-denominated assets cheaper for holders of other currencies. Gold, which also tends to benefit from loose monetary policy, climbed to its highest in about two weeks, with spot gold rising about 0.4 per cent to $1,226.40 an ounce. The Fed was not the only central bank in action though. The British pound stood at $1.6165, steady on the day and holding above an 11-month low of $1.5943 on Monday, ahead of the Bank of England's policy announcement later in the session. The bank is expected to keep rates steady near record lows.

Asian markets mostly up after Fed minutes

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HONG KONG, Oct 09, 2014 (AFP) : Asian markets mostly rose Thursday following an upswing on Wall Street as minutes from the Federal Reserve's latest meeting indicated policymakers were nervous about hiking interest rates too soon.

The minutes show the central bank board aired worries about the stronger dollar, a stumbling eurozone economy, slowing growth in China and Japan and geopolitical risks.

The news also sent the euro and yen up against the greenback as dealers contemplated several more months of record-low rates.

European shares hit two-month low

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LONDON, Oct 8 (Reuters): European equities fell on Wednesday, with a benchmark index slipping to its lowest in nearly two months, as investors moved out of shares around the world in the face of discouraging signals about the global economy.

Growing concern over the spread of Ebola outside Africa also hurt sentiment. Travel and leisure companies suffered because the expected slowdown in air travel and tourism.

The pan-European FTSEurofirst 300 index of blue-chip shares was down 0.8 per cent at 1,319.39 points at 1040 GMT after falling as low as 1,317.74, the lowest since August. The decline mirrored overnight losses in Asian and US equities after the IMF cut global growth forecasts.

In the latest evidence of economic malaise, China's services sector growth weakened in September as new business cooled, another sign of a slowdown in the world's second-largest economy. The figures came a day after German industrial output missed forecasts.

"It's concerns over global growth that are weighing on the equity markets," said James Butterfill, global equity strategist at Coutts. "If you look at Europe, there's very weak macroeconomic data. There's weak data coming out of China as well, so it does suggest weaker growth, and markets are perhaps adjusting to that.

Cyclical stocks, sensitive to economic conditions, bore the brunt of the selling, with technology, construction, travel and leisure and automobile falling 1.3 to 2.4 per cent.

Travel and leisure stocks also came under pressure from the spread of the Ebola virus to Europe. Several people have been quarantined in Spain after authorities confirmed that a Spanish nurse had caught the disease in Madrid.

Airline stocks such as IAG, which owns British Airways and Iberia, easyJet, Air France-KLM, cruise operator Carnival, tour operator TUI and Intercontinental Hotels Group, dropped 1.8 to 3.6 per cent. French industrial group Bollore, which has a significant exposure to Africa, fell 6.7 per cent.

Air France-KLM was also down after saying a pilot strike had wiped more than a fifth off its estimated full-year core profit.

Despite the sell-off in equities that started last week, Allianz Global Investors' Joerg De Vries Hippen said he saw good value in European stocks.

"European stocks are the cheapest you can find, and the only investment where you can realistically expect returns of 5 per cent per year given the good dividend yields," said De Vries Hippen, co-chief investment officer of European equities at Allianz GI, which manages 373 billion euros ($472 billion).

European shares hit two-month low

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LONDON, Oct 8 (Reuters): European equities fell on Wednesday, with a benchmark index slipping to its lowest in nearly two months, as investors moved out of shares around the world in the face of discouraging signals about the global economy.

Growing concern over the spread of Ebola outside Africa also hurt sentiment. Travel and leisure companies suffered because the expected slowdown in air travel and tourism.

The pan-European FTSEurofirst 300 index of blue-chip shares was down 0.8 per cent at 1,319.39 points at 1040 GMT after falling as low as 1,317.74, the lowest since August. The decline mirrored overnight losses in Asian and US equities after the IMF cut global growth forecasts.

In the latest evidence of economic malaise, China's services sector growth weakened in September as new business cooled, another sign of a slowdown in the world's second-largest economy. The figures came a day after German industrial output missed forecasts.

"It's concerns over global growth that are weighing on the equity markets," said James Butterfill, global equity strategist at Coutts. "If you look at Europe, there's very weak macroeconomic data. There's weak data coming out of China as well, so it does suggest weaker growth, and markets are perhaps adjusting to that.

Cyclical stocks, sensitive to economic conditions, bore the brunt of the selling, with technology, construction, travel and leisure and automobile falling 1.3 to 2.4 per cent.

Travel and leisure stocks also came under pressure from the spread of the Ebola virus to Europe. Several people have been quarantined in Spain after authorities confirmed that a Spanish nurse had caught the disease in Madrid.

Airline stocks such as IAG, which owns British Airways and Iberia, easyJet, Air France-KLM, cruise operator Carnival, tour operator TUI and Intercontinental Hotels Group, dropped 1.8 to 3.6 per cent. French industrial group Bollore, which has a significant exposure to Africa, fell 6.7 per cent.

Air France-KLM was also down after saying a pilot strike had wiped more than a fifth off its estimated full-year core profit.

Despite the sell-off in equities that started last week, Allianz Global Investors' Joerg De Vries Hippen said he saw good value in European stocks.

"European stocks are the cheapest you can find, and the only investment where you can realistically expect returns of 5 per cent per year given the good dividend yields," said De Vries Hippen, co-chief investment officer of European equities at Allianz GI, which manages 373 billion euros ($472 billion).

Wall St falls 1pc on global growth concerns

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NEW YORK, Oct 8 (Reuters): US stocks ended sharply lower on Tuesday, with major indexes falling 1 per cent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season.

The International Monetary Fund (IMF) cut its global economic growth forecasts for the third time this year, suggesting the environment remains difficult for companies, especially ones with multinational exposure.

The day's losses were broad, with all ten primary S&P 500 sectors ending lower, although cyclical shares - tied to the pace of economic growth - led the decline. Industrial shares lost 2.4 per cent, while financials  shed 1.8 per cent and material companies sank 1.8 per cent.

Joy Global Inc fell 4.2 per cent to $51.69 while Caterpillar Inc lost 3.4 per cent to $94.70 as the biggest decliner on the Dow. Boeing Co lost 2.3 per cent to $123.32.

German industrial output in August slid 4 per cent, the biggest fall in 5-1/2 years, a day after a report showed industrial orders had their biggest monthly drop since 2009.

"The number was very weak, which makes for a tough backdrop. I don't think this is a trend of something that will get horrible, but it is weak and current valuations demand that data be better than weak," said Hayes Miller, who oversees about $57 billion as the Boston-based head of asset allocation in North America at Baring Asset Management.

With the day's decline, the S&P 500 fell back below its 100-day moving average, a sign of weakening near-term momentum. The CBOE Volatility index rose 11 per cent to 17.2, near a level that has recently been taken as an indication the market is oversold.

The Dow Jones industrial average fell 272.52 points, or 1.6 per cent, to 16,719.39, the S&P 500 lost 29.72 points, or 1.51 per cent, to 1,935.1, ending at its lowest level since August 12. The Nasdaq Composite dropped 69.60 points, or 1.56 per cent, to 4,385.20.

Coca-Cola Co was the only one of the 30 Dow components to end higher on the day, up 0.7 per cent to $43.92. The beverage giant moved within a dollar of its all-time intraday high of $44.44, hit on July 15, 1998.

Shares of Yum Brands Inc fell 0.5 per cent to $69.35 in extended trading after the fast food chain operator cut its full-year outlook, citing weakness in Chinese sales.

Declining issues outnumbered advancers on the NYSE by 2,379 to 671, for a 3.55-to-1 ratio on the downside; on the Nasdaq, 2,188 issues fell and 516 advanced for a 4.24-to-1 ratio favoring decliners.

The benchmark S&P 500 index posted 8 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 15 new highs and 188 new lows.

About 6.43 billion shares traded on all US platforms, according to BATS exchange data, below the average of 7.27 billion over the past five sessions.

C&A Textiles Mills Ltd. (IPO) Subscription Date Start from November 09, 2014

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C & A Textiles Mills Limited (IPO) share of the money collected will be 45 Core. This company IPO subscription will be started from November 09, 2014 and will be closed on November 13, 2014. For NRB applicants, it will remain open till November 22, 2014. The face value of TK 10 per share value of company and offer price is TK 10 including a premium of taka Nil. This company share issue manager responsible for AFC Capital Limited and Imperial Capital Limited. Last financial year shows the EPS Taka 1.78 & Net asset value per share (NAV) taka 18.38. This Company Quantity of Share per lot 100. Total quantity of share: 45,000,000.
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Radio City promoters contemplate IPO in Jan-Mar 2015

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MUMBAI, Sept 27 (Business Standard): The promoters of private FM station Radio City 91.1 FM, Music Broadcast Private Limited (MBPL) owned by private equity firm IVF Holdings Pvt Ltd, are contemplating to come out with an initial public offering (IPO) in the first quarter of the next calender year.

The proceeds from the IPO will go into running radio stations across the country, which will include the ones acquired in the third phase of radio auctions.

Apurva Purohit, CEO, Radio City informs that now that the Telecom Regulatory Authority of India (TRAI) has approved the formula for migration of the phase two licenses in phase three, the company has earmarked Rs 2.0 billion for the process.

Another Rs 1.0 to 1.50 billion has been estimated as the cost for acquisition and roll-out of new radio stations across the country.

"We have been able to maintain EBITDA margins of 25 to 30 per cent year on year over the past two to three years and are debt free currently. After internal discussions and deliberations, we have come to the conclusion that between our current cash reserves, fresh equity investment from the promoters and loans from our banks, we will be able to raise the money for license extension and acquisition in phase three," she says.

Purohit adds that the company has had a good record with its banks and is already in discussion with Axis Bank for raising money for the auctions.

"The IPO is being considered to source additional funds so we have flexibility in bidding and are able to get all the stations we require, without being constrained as well as for the capex for setting up the (new) stations," she says.

Radio City is present in 20 cities: Mumbai, Delhi, Bangalore, Chennai, Ahmedabad, Pune, Hyderabad, Lucknow, Jaipur, Vadodara, Surat, Sholapur, Nagpur, Sangli, Coimbatore, Vizag, Ahmednagar, Akola, Nanded and Jalgaon.

The company intends to increase this number to 40 stations post the third phase of radio frequency auctions. The strategy of the company has been to target the SEC A and B sections of the listeners.

Currently, with its 20 stations, Radio City has a market share of around 50 per cent of market share in SEC A and B segment. In order to retain this share after the 800 odd frequencies have been auctioned in phase three, the company will need between 35 to 40 stations.

Rocket brings IPO forward due to 'exceptional' demand

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RANKFURT, Sept 27 (Reuters): Germany's Rocket Internet is bringing its planned initial public offering (IPO) forward by a week, citing "exceptional investor demand across all points of the price range" for its shares.

The e-commerce investment group said on Friday the offer period, which started on Wednesday, would now end at 1100 GMT (7:00 a.m. EDT) on October 1 for institutional investors, while private investors would have until the end of that business day to subscribe.

The first day of trading on the Frankfurt Stock Exchange is slated for October 2 and settlement is planned for October 6.

Rocket, riding the coattails of last week's successful listing by Chinese rival Alibaba, earlier this week doubled the amount of money it planned to raise in the share sale to 1.48 billion euros ($1.9 billion), and the listing became fully subscribed within the first hour of taking orders.

Alibabas IPO success fuels hope among Indian e-commerce majors

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BANGALORE, Sept 27 (Business Standard): The overwhelming response to Alibaba's initial public offering (IPO) in the US last week has generated tremendous excitement among Indian e-commerce majors, who believe the development demonstrates high investor confidence for the sector in emerging markets.

"I think the Alibaba IPO validates there is a large opportunity in the emerging markets for e-commerce, and in fact larger than what developed markets would have," said Sachin Bansal, co-founder and CEO of Flipkart. "It is a great example and is very motivational for us. It definitely makes the sentiment better for the Indian markets as well."

Last week, China's Alibaba Group Holdings made history when its IPO on the New York Stock Exchange topped a market capitalisation of $231 billion and became one of the most valuable companies in the world. The valuation of the Chinese giant is more than any Indian listed companies, and tops even the combined market capitalisation of market heavyweights Tata Consultancy Services, Oil and Natural Gas Corporation, and Reliance Industries.Even as none of the large e-commerce companies has shared any plans for an IPO in

the near-future, SnapDeal co-founder Kunal Bahl said the response to Alibaba's IPO is an indicator to how investors will perhaps respond to the IPOs of any Indian e-commerce companies in the future.

"Today it is a Chinese company, because that market is much larger. But I think in due course, you will see similar size businesses come out of India as well," Bahl said. "I think the market has always had an appetite for high growth businesses that are leveraging the strong consumer stories in emerging markets. But that said, given the amount of money that investors have made on Alibaba and the strength they have shown in the business, I think it's a strong, leading indicator of the confidence that they will probably show when companies from India, Indonesia, or Africa go public in due course of time."

While Flipkart has stated it would not look at an IPO in the near future, Bahl said SnapDeal has a plan for going public, but the company has not looked at a timeline for the same. He said the decision to go public would be taken based on several factors, including market conditions.

He added the decision on whether SnapDeal will list in India or overseas will be taken closer to when the IPO details are finalised, as regulations keep evolving, and Indian investors' appetite for e-commerce companies is firming up.

"Whether we go public or not is not the question; it's always a question of when. Alibaba went public 15 years after they started, so you have to give us a little bit of time," said Bahl.
 

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